DECLINE IN PRICES

Waikato Times, Volume 130, Issue 21655, 16 February 1942, Page 2

DECLINE IN PRICES

LONDON STOCK MARKETS it nlted Press Assn —Elec. Tel. copyright) LONDON, Feb. 13 The stock markets today had a down movement in almost complete unison, but sales were negligible except for freely marketable issues, where holders hope to repurchase more cheaply. Singapore and other reverses have brought home the need for still greater switching over of industry’s productive capacity to war materials. The Economist says it is becoming abundantly clearer that the standard of living in Britain as regards food, clothing and services is higher than is consonant with total' Approaching the Australian proposals in this frame of mind, financial circles display greater sympathy with Australia's aims than would have been likely some time ago. The main criticism turns on the apparent absence of rationing or other consumption restrictions. In the light of Britain's experience it is believed to be unwise and socially unjust to control the prices of goods in short supply without restricting the amounts payable. Jobbers in An falian equities, especially mining shares, take a less alarmist view than earlier ol the -i

per cent profits limitation. It is pointed out that the limitation will l'all less severely on industries with heavy machinery and plant than on those with small fi&ed capital.